In GST law, tax is to be paid on advance payment received.
In none of the tax invoice format available in the market, there is no column for advance received , GST paid and balance amount
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Advance. in gst
Replies (1)
Good observation sir,
But if you want, you can include it in your format. Because there is no particular prescribed format of invoice, only some contents are mandatory. You can customize the format as per your requirement and include such things.
More over, if not mentioned on invoice, this thing can be verified through ledger also.
Secondly in Return format, there is provision of adj of advance.
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